JD Sports plans takeover of rival retailer Go Outdoors as Sports Direct flounders August 21, 2016 High street retailer JD Sports Fashion is exploring a takeover of Go Outdoors in a bid to expand its dominance in fitness clothing. According to Sky News, JD Sports is one of several bidders looking to make an offer for Go Outdoors, which is being sold in an auction run by KPMG. JD Sports – which [...]
Sports Direct to lose £15m in sterling flash crash October 7, 2016 As if Mike Ashley didn't have enough troubles to deal with at the moment. Fresh from his Sports Direct warehouses being likened to a "Victorian warehouse" and a gaffe-ridden open-doors day at the retailer's Shirebrooke factory, the firm has been caught up in the fallout from sterling's flash crash. A trading update from the firm issued [...]
USC workers win case against Mike Ashley’s Sports Direct October 9, 2015 Workers at fashion chain USC that was put into administration by parent company Sports Direct earlier this year have won a legal battle against the firm, giving them redundancy pay that could run into thousands of pounds each. Staff had complained that they were given just 15 minutes notice before they lost their jobs. In [...]
Sports Direct issues new tannoy policy as it releases report into shortcomings in working practices September 6, 2016 Sports Direct has issued a new set of guidelines for employees using the tannoy system at its warehouse in Shirebrook – and told workers it should never be used for rebukes or criticisms. The retailer has previously come under fire for a number of its alleged working practices at the north of England warehouse, and one [...]
Sports Direct, Debenhams, Tesco and House of Fraser: What does Mike Ashley own and how much is he worth? November 25, 2015 It's been a busy year for Mike Ashley, who has been buying up retailers and football clubs left, right and centre. But what exactly does he own, and how much has it cost him? And what on earth do his Sports Direct shareholders make of all the investing? Sports Direct International Ashley owns 58 per [...]
Here’s the most shocking testimony from the workers at Sports Direct July 22, 2016 Sports Direct's founder Mike Ashley has come under intense pressure from MPs to fix the dire working conditions at his Shirebrook warehouse and in his stores. In a report released today, the Business, Innovation and Skills select committee outlined just how bad it is to work at Sports Direct as an agency employee. Read more: MPs [...]
Rangers chairman Dave King slams Sports Direct “agenda” against board but agrees to repay £5m loan to Mike Ashley’s company November 27, 2015 Rangers chairman Dave King blasted Mike Ashley's Sports Direct over "incessant litigation" which he says has harmed the club's rehabilitation. The Ibrox board announced it had agreed to repay a £5m loan from Sports Direct, reversing an earlier decision not to, at the club's annual general meeting in Glasgow. Speaking to around 1,000 shareholders today, [...]
Sports Direct’s share price soars as it announces £90m share buyback July 28, 2016 Sports Direct's share price was up 13 per cent this morning after the company announced a £90m share buyback. The buyback represents roughly five per cent of the fitness retailer's share capital and will be taking place in the lead-up to the company's annual general meeting (AGM) on 7 September. Read more: Four of the most jaw-dropping [...]
Sports Direct agrees to pay back workers £1m August 15, 2016 Workers who were paid less than the national minimum wage at Sports Direct's Shirebrook warehouse will receive a pay back from the company worth an estimated £1m. The retailer was under investigation by HM Revenue and Customs (HMRC) for failing to pay warehouse workers the national minimum wage. Workers were not paid for waiting at security checks before being [...]
Sports Direct share price rockets as it admits to serious shortcomings at Shirebrook warehouse and offers guaranteed hours to staff September 6, 2016 Sports Direct has admitted to serious shortcomings in the working practices at its Shirebrook warehouse, and plans to make changes to the way its workers are treated, the company said in a report released today. Shares in the company were up 5.5 per cent in this morning's trading. The retailer said it will offer casual retail staff guaranteed [...]